The Portland Condo Market - A mini series
Apr 18, 2017 in Portland Condos

Greetings all!


So this past winter I took an 8 month sabbatical to live in Medellin, Colombia to focus on rebuilding this website plus learn a bit of Spanish. :)

The Portland condo market was quite strong when I left, but I returned home to an even stronger and rapidly changing one!

I figured as I re-educate myself on the market I might as well share the knowledge.

Some initial facts
  • Currently there are 86 units on the market in Portland with a median asking price of $399,450.
  • Out of the 86 listings currently on the market, approximately 30% are new construction units.
  • To date in 2016, 194 condos have sold at a median sales price of $251,700.  
  • For perspective: In 2010, 110 units had sold at a median sales point of $193,000 at this time.
  • There are currently 69 pending/under contract condo listings there were listed at a median asking price of $325,000.

The graphs below may make it look like prices have stabilized, but they are a bit deceiving as the many pending units under contract have not closed and will not until the buildings are complete.

My initial takeaway:  This market continues to heat up and will grow hotter before it cools!

Next week we will hopefully delve into the various neighborhoods and the types of condos within each.

Muchas gracias para leyendo,
John
 


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